Bill,
We have overhauled engines with thousands upon thousands of total hours on them. As an engine goes through life and gets overhauled various parts are replaced. As this overhaul process is done several times almost all of the parts in the engine get replaced with something else. So with an engine that has gone through several overhaul cycles it is very unlikely you have many of the original parts it left the factory with still installed. and most of the parts will have various operating total times even though the total time for the engine is much higher. Assuming that each overhaul that the engine went through weas done properly, I personally don't feel that the engine total time since new has any bearing or importance. If the engine has gone through several overhauls that the main objective was to do the minimum and save as much money as possible it could be more expensive to overhaul that particular engine as compared to another where the objective was to do it right at every overhaul. But regardless of what condition core you have, you should be able to overhaul it repeatedly, in the end after several overhaul cycles, only the dataplate will really have the operating hours the log book says is on the engine.
Good Luck,
Mahlon
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